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- 1 Fantom price prediction is bullish for October 2023.
- 2 FTM price formed a strong base near the $0.1800 level.
- 3 Fantom crypto price is trying to climb above the 50-day EMA.
Fantom price prediction stays bullish for this month and suggests a massive rise is possible. FTM price consolidated in a narrow range between $0.1800 to $0.2200 and formed a strong base.
FTM price is near the multi-year low and looks oversold so the possibility of more downside is limited.
Fantom crypto price is trying to climb above the 50-day EMA to reverse the short-term trend in an upward direction. If the buyers succeed, then the probability of the upward range expansion will increase substantially.
On a higher time frame, the FTM price is in a downtrend and forms a bearish pattern. Previously, sellers tried multiple times to break out of the 50-day EMA but got rejected; indicating sellers’ presence on a higher level.
Currently, buyers are preparing for the next attempt. If they succeed, then investors should be prepared for the massive rally.
Fantom price is trading at $0.1979 with an intraday decline of -1.69. The 24-hour volume to market cap is 4.97%. The pair of FTM/BTC is trading at 0.00000716 with an intraday decline of 1.10%.
Will Fantom Price Break the Upward Range?
Fantom price prediction suggests that bulls are getting active and preparing for an upside reversal. The trading volume in FTM crypto is low but if fresh buyers took position, then it might be visible in the volume.
In the coming weeks, if the overall crypto market recovers, then the FTM price may be positively impacted. Moreover, if buyers succeed in breaking the $0.2200 hurdle, then a sharp rise toward $0.2500 is possible.
On the other hand, if the price faces rejection, then more consolidation in the existing range is possible. The analysis suggests that the downfall in the Fantom crypto has taken a halt and the time for upside reversal is near.
FTM Price Trend Reversal Confirmation Awaited
FTM price shot up 11.77% last week and formed a bullish reversal candle. However, the confirmation of the reversal is awaited.
At present, fresh buyers are hesitating to long positions but if a slow and steady price recovers, the crypto whale might become active.
The MACD curve slopes upward and is likely to climb above the zero line indicating mild bullishness. The RSI at 51 denotes neutral territory and the balance between bullish and bearish positions.
Conclusion
Fantom price prediction is bullish for October 2023 and suggests the upcoming breakout attempt might be successful. The analysis suggests the FTM price is near to the multi-year low so it might show a comeback in October.
Technical Levels
- Resistance levels: $0.2466 and $0.2773
- Support levels: $0.1812 and $0.1625
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.
